Charles Schwab Investment Management Inc. Grows Stock Position in Altair Engineering Inc. (NASDAQ:ALTR)

Charles Schwab Investment Management Inc. grew its holdings in shares of Altair Engineering Inc. (NASDAQ:ALTR) by 0.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 506,579 shares of the software’s stock after buying an additional 1,109 shares during the period. Charles Schwab Investment Management Inc. owned 0.60% of Altair Engineering worth $55,273,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ALTR. UMB Bank n.a. increased its position in Altair Engineering by 77.0% in the 4th quarter. UMB Bank n.a. now owns 285 shares of the software’s stock valued at $31,000 after acquiring an additional 124 shares during the period. GAMMA Investing LLC increased its holdings in Altair Engineering by 14.6% in the 4th quarter. GAMMA Investing LLC now owns 729 shares of the software’s stock valued at $80,000 after purchasing an additional 93 shares in the last quarter. Blue Trust Inc. grew its stake in shares of Altair Engineering by 185.5% during the fourth quarter. Blue Trust Inc. now owns 825 shares of the software’s stock valued at $90,000 after acquiring an additional 536 shares in the last quarter. Van ECK Associates Corp grew its stake in shares of Altair Engineering by 28.5% during the third quarter. Van ECK Associates Corp now owns 1,358 shares of the software’s stock valued at $130,000 after acquiring an additional 301 shares in the last quarter. Finally, KBC Group NV lifted its position in shares of Altair Engineering by 17.9% during the third quarter. KBC Group NV now owns 1,640 shares of the software’s stock worth $157,000 after purchasing an additional 249 shares during the last quarter. 63.38% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Matthew Charles Brown sold 1,048 shares of Altair Engineering stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $108.90, for a total transaction of $114,127.20. Following the completion of the sale, the chief financial officer now owns 55,519 shares of the company’s stock, valued at approximately $6,046,019.10. The trade was a 1.85 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Teresa A. Harris sold 450 shares of Altair Engineering stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $111.08, for a total transaction of $49,986.00. Following the sale, the director now directly owns 18,092 shares of the company’s stock, valued at $2,009,659.36. The trade was a 2.43 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 10,805 shares of company stock worth $1,202,184. Company insiders own 21.75% of the company’s stock.

Altair Engineering Price Performance

Shares of ALTR opened at $111.15 on Friday. The company’s fifty day moving average price is $110.70 and its 200 day moving average price is $103.55. Altair Engineering Inc. has a one year low of $75.71 and a one year high of $113.12. The company has a market capitalization of $9.54 billion, a PE ratio of 653.82, a price-to-earnings-growth ratio of 10.75 and a beta of 1.45.

Altair Engineering (NASDAQ:ALTR) last posted its quarterly earnings results on Thursday, February 20th. The software reported $0.36 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.15). The business had revenue of $192.63 million during the quarter, compared to analyst estimates of $182.98 million. Altair Engineering had a return on equity of 8.08% and a net margin of 2.13%. Analysts anticipate that Altair Engineering Inc. will post 0.87 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALTR. Rosenblatt Securities reissued a “neutral” rating and issued a $113.00 target price on shares of Altair Engineering in a report on Monday, February 24th. Needham & Company LLC restated a “hold” rating on shares of Altair Engineering in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating and seven have given a hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $100.83.

About Altair Engineering

Altair Engineering Inc, together with its subsidiaries, provides software and cloud solutions in the areas of simulation and design, high-performance computing, data analytics, and artificial intelligence in the United States and internationally. It operates in two segments, Software and Client Engineering Services.